Real Estate Market Updates May 11, 2020 week Irmo/Chapin Residential Area The housing market has remained very much a seller's market even through the COVID19 shut down. The
How do I know what my house is worth?
When I meet people and tell them I am a real estate broker, one of the first things I get asked is how is the market and the second is how are the property values locally. The market is doing really great and with low inventories at this moment, prices are very competetive. It's important to keep in mind that values of homes are based on comparable sales within a certain period of time.
The tools that real estate professionals use to explain to sellers how to decide on how much to list their house for is often a report called a CMA (Comparative Market Analysis). This report consists of the subject property (Your Home) and at least five other properties that are similiar in several ways. First would be the location and I usually pick through homes that are zoned for the same elementary school. Secondly I will choose properties that are the same construction style or how the facade of your home was built; vinyl siding, brick, stucco, etc. Third would be the square footage. All these three selections are used to find homes that have SOLD in the past 6-9 months.
Without boring you with all the other mumbo jumbo that goes into doing a CMA, after I make adjustments to bring the subject property and comparables to be as equal as possible, then that's when we start to see a good strategic listing price. Nothing beats having an agent with experience and market knowledge to make sure you're home is priced well and ready to sell.
Here is a tool for you to get a general basic idea of your homes worth. I will follow up with you and find out some more about your property and see what your motivation is, because that can also effect the type of Market Analysis that is done for you. Do you want to list your house or refinance? Or are you just wanting to get an idea of your assets.
Columbia Metro Area Homes for Sale: Yvonne Torres-Baatz (Pinelli), Real Estate Agent with Southern Shores Real Estate Group in Chapin, SC. Advocating for sellers and buyers with professional real estate services. Nothing compares to having a real estate agent providing true data and research to make an informed and educated decision. You can get information about real estate in Columbia, Chapin, Irmo, Lexington SC by contacting me: Yvonne Torres-Baatz (Pinelli) 803-586-9070
Yvonne Torres-Baatz is a local real estate agent servicing the Columbia-Chapin SC market for Southern Shores Real Estate Group in the Midlands. No one makes oatmeal raisin cookies that taste as go....
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